Merchant

Two related and equally humiliating cases of high-level bankers completely falling for fake emails illustrate the dangers of social engineering and the need to better protect executives and other employees from themselves.

Big-box retailers have beat back banks’ latest attempt to kill a legislative provision that has cost lenders billions of dollars in lost revenue. Known as the Durbin Amendment, the measure was included in the 2010 Dodd-Frank Act to limit how much money banks can charge retailers when consumers use their debit cards.

American Express has made several attempts to escape its image as a card for the elite, with efforts such as the Bluebird prepaid card and the OptBlue pricing program for small merchants. Its latest move is focused on rewards for small-business owners.

As volume grows, fraud and security risk will expand as well. Merchants and issuers can't afford to avoid the extra work to secure the channel.

Netspend is focusing on "overlooked and emerging segments" to expand its prepaid card services, according to company president Chuck Harris. And it's making some very unconventional alliances along the way.

Bay Area CU launches Business Banking Division to increase, diversify loan portfolio.

Regulatory restrictions on market entry can shield banks for only so long from problems like those faced by traditional retailers. But financial institutions can take these steps to stay competitive in the ever-digital world.

There are hundreds of millions of users that store credit cards with Google but don’t use Android Devices, giving Google the chance to take advantage of data it already has to improve functionality.

UBS Group AG, Switzerland’s largest bank, plans to introduce a premium card this month as it seeks to strengthen ties with affluent Americans.

Calling it a first in international payments, the Society for Worldwide Interbank Financial Telecommunication [Swift] is providing a cross-border, real-time payments tracker for banks handling global transactions.